WDC - Western Digital Corporation

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
+1.54 (+2.60%)
At close: 4:00PM EDT
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Previous Close59.28
Bid0.00 x 1800
Ask61.83 x 4000
Day's Range59.26 - 60.94
52 Week Range33.83 - 65.31
Avg. Volume4,560,289
Market Cap18.079B
Beta (3Y Monthly)2.24
PE Ratio (TTM)N/A
EPS (TTM)-2.58
Earnings DateOct 30, 2019
Forward Dividend & Yield2.00 (3.37%)
Ex-Dividend Date2019-10-03
1y Target Est62.79
Trade prices are not sourced from all markets
  • Business Wire

    Western Digital to Announce First Quarter Financial Results on October 30, 2019

    Western Digital Corp. plans to announce financial results for its first quarter of fiscal 2020 after the market closes on Wednesday, October 30, 2019. The investment community conference call to discuss these results will be held that day at 1:30 p.m.

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    Western Digital Stock Gets an Upgrade on Firmer Apple iPhone Demand

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  • Business Wire

    Give the Gift of Memories This Holiday Season With ibi

    The holiday season is about spending time with loved ones and creating cherished memories together. It’s the perfect gift for those who need a simple, comprehensive solution to take control of their photos and videos, so they can enjoy them for years to come. Available soon with 1TB1 of storage, ibi can store approximately 250,000 photos* or 100 hours of video** for just $129.99 MSRP.

  • Barrons.com

    The Dow Is Down Because China May Not Sign Trump’s Trade Deal

    The Dow Jones Industrial Average looks set for a lower open Monday morning as questions abound about the trade agreement reached by the U.S. and China on Friday.

  • TheStreet.com

    Western Digital Climbs as Loop Capital Boosts Rating to Buy From Hold

    Loop Capital sees flash ASPs rising quarter to quarter at Western Digital thanks to slightly firmer iPhone 11 demand.

  • Did Hedge Funds Drop The Ball On Western Digital Corporation (WDC) ?
    Insider Monkey

    Did Hedge Funds Drop The Ball On Western Digital Corporation (WDC) ?

    How do we determine whether Western Digital Corporation (NASDAQ:WDC) makes for a good investment at the moment? We analyze the sentiment of a select group of the very best investors in the world, who spend immense amounts of time and resources studying companies. They may not always be right (no one is), but data shows […]

  • Chip ETFs in Focus as Trump Blacklists More Chinese Tech Firms

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  • Western Digital (WDC) Outpaces Stock Market Gains: What You Should Know

    Western Digital (WDC) Outpaces Stock Market Gains: What You Should Know

    In the latest trading session, Western Digital (WDC) closed at $56.53, marking a +1.82% move from the previous day.

  • Short-Term Pain and Long-Term Gain for Micron Stock

    Short-Term Pain and Long-Term Gain for Micron Stock

    Valuing a cyclical play like Micron Technology (NASDAQ:MU) stock is difficult for two reasons. In theory, valuation should be based on so-called "mid-cycle" earnings, but calculating those earnings isn't easy when it comes to MU. And volatile earnings like those of MU can lead to volatile trading, which is exactly what we've seen from Micron stock.Source: Charles Knowles / Shutterstock.com Indeed, in the last three years, MU stock has moved from under $20 to over $60 to a current price just north of $43. And its earnings have been all over the map. Micron was unprofitable in fiscal 2016 - and earned almost $12 per share on an adjusted basis in fiscal 2018. * Are These 10 High-Yielding S&P Dividend Stocks Traps or Treasures? Its EPS will likely head below $3 in fiscal 2020, based on analysts' average estimate. And so after MU stock looked almost absurdly cheap, at one point trading below four times its non-GAAP EPS, now, at 17 times its forward earnings. it looks reasonably valued at best,InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe issue with Micron stock at the moment is that the two ways of evaluating the stock seem to point in different directions. Fundamentally, I still see MU stock as a buy. Indeed, this summer I called it one of the best S&P 500 stocks to buy.But technically, the selloff following its Q4 earnings makes some sense. Like the Q4 report - which I thought was more concerning than investors seemed to believe - the company's Q1 guidance looked disappointing. Given the results and guidance, there's not enough evidence to believe a bottom in MU stock has been set for good.Some investors may choose to focus on the company's long-term outlook and ride out any near-term volatility in Micron stock. I wouldn't blame them. But more aggressive investors might want to wait for a better entry point that may well be available in coming months. Is the Bottom in for MU Stock?In theory, the multiple of a cyclical company like MU should contract at the top of cycles and expand at the bottom. That explains why the multiple of MU stock was so low last year: investors were (correctly) anticipating that MU's earnings would decline. And it also explains why investors are paying over 16 times earnings for Micron stock even as MU's profits are tumbling.But in practice, the Street's outlook isn't always accurate. Investors and analysts get too optimistic at the top, and they get too pessimistic at the bottom. Both phenomena have affected Micron stock in recent years.And so one of the tricks to trying to buy a cyclical stock is not just timing the fundamental bottom or top, but trying to time when investors' sentiment will shift. Cyclical stocks usually turn a couple of quarters before their businesses do. That has been the case with MU. But investors don't always correctly price companies' fundamentals into their stocks ahead of time.Those who buy Micron stock above $40 may be overly upbeat about the company's future performance. Its Q4 and Q1 guidance both came in below analysts' average estimates. And some short-term factors boosted the results of both quarters.Per MU's Q4 conference call, its customers in China are building inventory ahead of potential tariffs and political dislocations. Cost declines have been steeper than they will be going forward.The bounce of MU stock since the company's Q3 report suggests that investors are pricing in a cyclical recovery starting as soon as next year. I'm far from convinced that such a recovery is on the way.Given the current valuation of MU stock, the company's earnings and price-earnings multiples may both drop, pushing MU stock back to $30 or lower. The Fundamental Case for Micron StockThat said, I still believe MU stock can rise over the long-term. At this point, estimating its mid-cycle earnings is difficult, given the large changes in its annual profits. But as management said before and reiterated on its Q4 call, MU and its industry have improved over the last three years.Its production capacity has been reduced, enabling it to spend less on equipment. For the most part, its rivals like Samsung are also cutting their production.Moreover,the prices of MU's products are reasonably intact. The hope is that the boom and bust nature of its business will moderate, even if it likely never will completely end.Last year's $11.95 of adjusted EPS obviously represents a peak for MU. And given multiple factors, it may not be a peak to which Micron returns any time soon. But with adjusted EPS still likely to come in above $2 this year, it does seem like mid-cycle EPS conceivably could be $4 or $5.I'd certainly rather own Micron stock than, say, Intel (NASDAQ:INTC), given the likely long-term tailwinds for both DRAM and NAND memory that will benefit MU. But on the other hand, MU doesn't have the linear growth potential of Advanced Micro Devices (NASDAQ:AMD) or the diversification of Broadcom (NASDAQ:AVGO). However, MU's earnings still can rise.Assuming MU's mid-cycle EPS is $4+, that suggests the fair value for MU stock still should be above $50. And if supply and demand trends become more favorable than expected, Micron stock can rise still higher.But the question remains: when can that happen? With the market - including chip stocks - weakening, and MU's Q1 results likely to look soft, MU lacks a catalyst. So while I do expect MU stock to climb above its current level, I don't know that I necessarily expect it to rally any time soon.As of this writing, Vince Martin has no positions in any securities mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Best ETFs for 2019: The Race Is a Little More Gnarly Now * 7 Next-Generation Healthcare Stocks to Buy * Are These 10 High-Yielding S&P Dividend Stocks Traps or Treasures? The post Short-Term Pain and Long-Term Gain for Micron Stock appeared first on InvestorPlace.

  • GuruFocus.com

    Michael Burry's Western Digital Is S&P 500's Best Stock in 3rd Quarter

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  • Here's Why We're Wary Of Buying Western Digital Corporation's (NASDAQ:WDC) For Its Upcoming Dividend
    Simply Wall St.

    Here's Why We're Wary Of Buying Western Digital Corporation's (NASDAQ:WDC) For Its Upcoming Dividend

    Western Digital Corporation (NASDAQ:WDC) stock is about to trade ex-dividend in 4 days time. Investors can purchase...

  • Micron Eyes Worst Day Since 2015 After Outlook Disappoints

    Micron Eyes Worst Day Since 2015 After Outlook Disappoints

    (Bloomberg) -- Micron Technology Inc. shares tumbled on Friday after the chipmaker gave a forecast for both earnings and gross margins that was below expectations. The company’s chief executive officer also warned about the impact that global trade tensions were having on its business.Despite the cautious commentary, many analysts suggested that the worst may be over for the company, seeing signs of a trough in the market for memory chips. As Credit Suisse wrote, this was “a messier bottom, but still a bottom.” Barclays said that while the quarter’s results didn’t represent “the perfect start to the recovery,” they did indicate that the memory market “does seem to be heading to a better place.”Shares fell as much as 11.4% in their biggest drop since January 2016, and are on pace to see their largest one-day percentage decline since June 2015. The loss comes after Micron surged nearly 50% between a June low and the close of trading on Thursday. Rosenblatt Securities credited the drop to profit taking after the recent rally, and added that “investors should be opportunistic” in buying on weakness.The Philadelphia Semiconductor Index dropped as much as 2.9%, participating in a broad market decline. Among other names, Applied Materials fell 5.6% while Lam Research was down 6.1%. Western Digital Corp. lost 2.4%.Here’s what analysts are saying about Micron’s results:Citi, Christopher DanelyThe outlook was “well below what we believe were sky-high expectations.”The market for DRAM chips “is closer to the bottom and Micron is demonstrating higher trough earnings.”Raises price target to $35 from $30, which matched the Street-low view. Reiterates sell rating, citing the stock’s recent advance.Credit Suisse, John PitzerThis was “a messier bottom, but still a bottom.”While the results were “disappointing” in the near term, the firm has increased confidence that Micron is “in a profitable cycle bottom for the first time ever” and that inventory levels at customers “have returned to normal levels.”Outperform rating, price target a Street-high $90.Morgan Stanley, Joseph MooreThe inventory increases “seem problematic” and suggest that “things are going to get tougher from here.”“Not overly alarmed” by the gross-margin outlook; “the really daunting data point is that the company built inventory dollars” in a meaningful way on a sequential basis, even in the seasonally strongest quarter of the year.Equal-weight rating, $48 price target.Barclays, Blayne CurtisDespite better-than-expected revenue, the focus will be on the gross-margin outlook, which was “disappointing.”“Despite all the increasing enthusiasm on pricing, it’s not flowing to the bottom line.”This “wasn’t the perfect start to the recovery,” but “the memory market does seem to be heading to a better place and we would be interested if the stock pulls back.”Overweight rating, $50 price target.KeyBanc Capital Markets, Weston TwiggWhile Micron is seeing “improving demand,” memory pricing “remains depressed and [gross margins] may remain low until demand trends accelerate.”Affirms overweight rating, citing the long-term potential of the memory market and the company’s competitive position. Price target raised by $1 to $59.Rosenblatt Securities, Hans MosesmannThe results “indicate we are starting a recovery phase in the memory semiconductor cycle.”Says the negative reaction to the quarter is “profit taking,” and adds that “it is clear to us that the cycle has turned, Micron is a stronger company in virtually all aspects of the business, and investors should be opportunistic” in buying on weakness.Buy rating, price target raised to $80 from $60.What Bloomberg Intelligence Says:Despite “improving NAND and DRAM fundamentals,” steep price declines and other factors “may roil margins” in the first half of next year. “The magnitude and length of the supply-demand mismatch may determine how quickly balance can return to drive sales growth in 2020.”\- Analyst Anand Srinivasan\- Click here for the report(Updates stock in third paragraph)To contact the reporter on this story: Ryan Vlastelica in New York at rvlastelica1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Steven Fromm, Scott SchnipperFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Dow Jones Futures: Micron Earnings Guidance Hits These 5 Chip Stocks
    Investor's Business Daily

    Dow Jones Futures: Micron Earnings Guidance Hits These 5 Chip Stocks

    Stock futures: Micron earnings beat views, but mixed guidance doesn't bode well for an industry recovery. Micron fell, along with Western Digital, Applied Materials, ASML and Lam Research.

  • Investing.com

    Stocks - U.S. Futures Attempt to Recover From Volatile Week

    Investing.com - U.S. futures bounced back slightly on Friday, but were still far from recovering from losses caused earlier in the week by political drama at the White House and problems with some high-profile IPOs.

  • Western Digital (WDC) Gains As Market Dips: What You Should Know

    Western Digital (WDC) Gains As Market Dips: What You Should Know

    Western Digital (WDC) closed at $61.80 in the latest trading session, marking a +1.23% move from the prior day.

  • Is Micron Stock Set to Jump 30% to $65 Per Share on Earnings?

    Is Micron Stock Set to Jump 30% to $65 Per Share on Earnings?

    Shares of Micron (NASDAQ:MU) have been on a cautious rise lately as investors and analysts worry less and less about the DRAM and NAND market. Slowly but surely, markets are starting to trust the idea that the semiconductor market has bottomed out. That's great for chipmakers and memory companies -- MU stock included.Source: Charles Knowles / Shutterstock.com Analysts have been warming up to the name too. The latest is JPMorgan, who maintained their overweight rating and bumped their price target from $50 to $65. With shares ending last week near $49, the price target implies almost $16 in upside, or more than 30%. Bulls on BoardHarlan Sur of JPMorgan says that NAND pricing is ahead of their expectations, while DRAM is relatively in line with their expectations. Further, he expects next quarter to mark the trough in gross margins, while an "inflection in [the] cloud data center" should help drive revenue. Strong demand for gaming, PCs and smartphones should also help.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 5 Red Hot Housing Stocks Sprinting to Decade Highs JPMorgan analysts aren't the only the ones bullish on Micron, though.Last week, Micron also caught a price target boost from $55 to $65 at Cascend Securities. The analysts maintain a buy rating and believe MU has "good value" after evaluating the DRAM market.Among the bullish camp, many are forecasting and making similar observations with their channel checks. That is, many expect margins to bottom in the next quarter or two and for demand to stabilize and improve in Micron's end markets.Now, can it get to $65? Trading MU StockBack in April, we were looking for a breakout over the $44 to $45 area. MU stock had all the hallmarks of an ascending triangle, a bullish technical pattern. Rising uptrend support (blue line) was squeezing the stock into a static level of resistance (purple line). In this case, that resistance came into play between $44 to $45.If MU stock price closed above this mark, it could have potentially continued higher as it broke out. Instead, the charts unwound and Micron stock took a tumble. Shares finally put in a double bottom down near $32.For now, shares are holding up above $49. This is where MU topped out after it finally pushed through $45 resistance. After another brief fall below $45 and another breakout, shares ran to $51.39, the September higher. I would love to see MU consolidate above $49, with the 20-day moving average trending higher.However, investors won't have long to wait for some action. Micron stock reports earnings on Thursday. While it's not guaranteed to be volatile, most of its post-earnings moves pack quite a punch.On the upside, look to see if MU stock can close above the September highs at $51.39. That could send it on its next breakout higher, putting a $65 price target that much closer. If $49 fails as support, as does the 20-day moving average, it's vital that $44 to $45 -- prior resistance -- acts as support.If it does, or if the 50-day supports MU stock, it may be a dip-buying opportunity. Bottom Line on Micron StockThe trouble with MU stock? Supply and demand -- and I'm not talking about the actual stock. I'm talking about memory.If demand dries up and/or supply is too high in the DRAM and NAND markets, companies like Micron suffer. Others come under pressure too, like Lam Research (NASDAQ:LRCX), Western Digital (NASDAQ:WDC), Applied Materials (NASDAQ:AMAT).For this quarter, analysts expect Micron's revenue to decline almost 46% year-over-year to $4.57 billion. Further, they expect an 84.2% decline in earnings to 48 cents per share.That's vastly below the fiscal year rates, with estimates calling for revenue to decline 23.9% this year and for earnings to decline almost 48% year-over-year. Should it turn out that we're not near a trough in Micron's business, then there is surely more downside coming.As it stands, in fiscal 2020, analysts expect the slowdown to ease. Estimates call for revenue to decline "just" 13.5%. However, they expect an even worse earnings contraction, calling for profits to decline more than 55%.18 times next year's earnings estimate of $2.69 per share isn't cheap. But if MU can deliver on the upside and management gives a promising outlook, analysts' estimates -- and MU stock price -- may move higher. * 7 Stocks to Buy Under $10 So what's the bottom line? See if $45/the 50-day moving average holds on a pullback. On the upside, look for a close over $51.39.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities.ed securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy Under $10 * 30 Marijuana Stocks to Buy as the Future Turns Green * 7 Consumer Stocks Ready to Rally Hard The post Is Micron Stock Set to Jump 30% to $65 Per Share on Earnings? appeared first on InvestorPlace.

  • 3 Semiconductor Stocks to Trade Ahead of Micron Earnings

    3 Semiconductor Stocks to Trade Ahead of Micron Earnings

    Semiconductor stocks have been held hostage by the China-U.S. trade war for over a year. We now live in a connected world so the market fears are legitimate since most of the semiconductor stocks' profit and loss statements depend heavily on what happens to the commerce with China. There are not only revenue repercussions but supply chain concerns. So the bullish thesis for the semiconductor sector has to include a reasonable resolution to the conflict. With so much on the line, I bet that the governments will eventually come to some sort of boring agreement that saves face for both sides.Meanwhile there are semiconductor stocks to buy even here. * 7 Stocks to Buy Under $10 This week Micron will report earnings and this will matter to the entire chip sector as a whole. What they say about business going forward will resonate loudly throughout the charts of Intel (NASDAQ:INTC), Nvidia (NASDAQ:NVDA), and Advanced Micro Devices (NASDAQ:AMD) to name just three. Today I dissect trading MU, AMD and INTC stocks.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Micron (MU)MU stock goes in and out of favor often among investors on Wall Street. It has always been a value stock, which is code for not getting the respect it deserves. So value alone is not reason enough to chase upside. Recently MU rallied above $48 per share and this week it may have the opportunity to prove that it belongs up here with its earnings report on September 26.So on Thursday, the bulls have a chance to prove that they can hold $48 per share as forward support. If so, then the upside potential for MU stock can be another 10% or more. Since the short-term reaction to these events is always a coin flip, this is a binary trade when they report earnings. We don't know what the company is going to say, nor do we know how investors will react to it. If Micron stock falls below $48 then it would be vulnerable to a 10% correction that would fill gaps below.The MU event also offers opportunities to trade other semiconductor stocks like INTC and AMD. Those two are viable proxy bets to the MU earnings report. Advanced Micro Devices (AMD)AMD stock has been the chip champ for two years. It has out-performed even during times when the markets in general were falling. AMD is up 140% in two years which is five times better than its closest competitor.This week, AMD stock has tightened into a point. Meaning there is a move coming but the direction is yet to be determined. If the reaction to Micron is positive then AMD can breakout from its $32 resistance zone. This could also reignite the rally to target $40 per share or more. Conversely, if the bears are able to push AMD below its recent support near $29.20, then shares could fall another $2 from there.This is all to say that there is an opportunity to trade AMD for the short term. Long term, it remains a buy in my book. So, I will buy-the-dip if it comes this week. Ideally, I would sell premium into the downside fear. For example I can sell the November 26th downside put for over $1 per contract. This would be a rinse-and-repeat trade for me, and I would reopen if the bears punish AMD stock this week. * 7 Worst Stocks in the S&P 500 in 2019 Meanwhile, if I am long AMD stock as a long term investment then I would not change my stance just for the Micron earnings uncertainty. If adding a new position, I would employ a tight stop below $29. This way if it spikes then I'm I already on board, else I get stopped out with minimal damage. Intel (INTC)There is a similar setup in Intel stock, but I don't like the overall body language of this stock. AMD has the advantage of Wall Street loving its current management whereas INTC management is in flux. Nevertheless the upside opportunity in INTC stock is at $53.50. If the bulls are able to take it above that they could cover the gap to 58 quickly. Conversely, there are gaps below that would bring INTC stock back down to is $47 neckline from just a few days ago.The outcome of Intel stock this week just like AMD revolves around what happens on Friday morning when Micron trades its earnings results. Fundamentally, all three stocks belong at least at these levels, but the headline risk is still binary as it always is with earnings reports. Investors love to extrapolate the results of one company into another which is almost always a mistake. In any of these cases, I would wait for confirmation of the breakouts or breakdowns before chasing them.Jumping the gun can be costly. These are momentum stocks so when they run they do it fast and long. So discipline is important when trading them especially for the shorter term. Value alone is not an argument for support so it's more important to pay more attention to the actual technical levels on the charts.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. Join his live chat room for free here. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks to Buy Under $10 * 30 Marijuana Stocks to Buy as the Future Turns Green * 7 Consumer Stocks Ready to Rally Hard The post 3 Semiconductor Stocks to Trade Ahead of Micron Earnings appeared first on InvestorPlace.

  • The Zacks Analyst Blog Highlights: Credit Suisse, Western Digital and Keysight Technologies

    The Zacks Analyst Blog Highlights: Credit Suisse, Western Digital and Keysight Technologies

    The Zacks Analyst Blog Highlights: Credit Suisse, Western Digital and Keysight Technologies

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  • Western Digital to Offload IntelliFlash Business to DDN

    Western Digital to Offload IntelliFlash Business to DDN

    Western Digital's (WDC) focus to ensure its products deliver high quality storage solutions across all emerging data-driven technologies bodes well. Also, ongoing expansion of product portfolio bodes well for the top line.

  • DDN Announces Acquisition of IntelliFlash Enterprise Storage Business Unit from Western Digital
    PR Newswire

    DDN Announces Acquisition of IntelliFlash Enterprise Storage Business Unit from Western Digital

    SANTA CLARA, Calif., Sept. 19, 2019 /PRNewswire/ -- DDN®, the global leader in AI and multicloud data management, today announced that it has entered into a strategic partnership with Western Digital Corp. (WDC) that includes an agreement to acquire Western Digital's IntelliFlash™ business. Additionally, the companies will expand their existing relationship through a mutual global strategic sourcing agreement.

  • MarketWatch

    Western Digital begins selling off its storage-systems business

    Western Digital Corp. announced Thursday afternoon that it has agreed to sell its IntelliFlash business to private company DDN, part of an effort to divest standalone storage-systems businesses. Western Digital did not disclose the price DDN will pay. The company said it is also looking at strategic options for its ActiveScale storage-system business. The sale of the IntelliFlash business is expected to close before the end of 2019, Western Digital said, and exiting both businesses will add 20 cents a share in adjusted earnings annually, not counting restructuring and other charges. Western Digital shares initially gained more than 2% in after-hours trading following the announcement.

  • Business Wire

    Western Digital Announces Sale of IntelliFlash Business to DDN and Intention to Exit Storage Systems

    Western Digital Corp. (WDC) today announced that it has entered into a definitive agreement to sell its IntelliFlash™ business to DDN, a global leader in artificial intelligence (AI) and multi-cloud data management. In addition, Western Digital and DDN have agreed to expand their existing partnership through a multi-year strategic sourcing agreement, under which DDN will increase its purchase of Western Digital’s HDD and SSD storage devices. This announcement is part of Western Digital’s strategic intention to exit Storage Systems, which consists of the IntelliFlash and ActiveScale™ businesses.

  • U.S. blacklists Chinese entities over human rights concerns
    Yahoo Finance Video

    U.S. blacklists Chinese entities over human rights concerns

    The Trump administration placed 28 Chinese entities on a blacklist, citing alleged human rights violations against Muslim minorities in the country. Firms on the list include surveillance companies and artificial intelligence startups. Tony Nash, Founder & CEO of Complete Intelligence, joins Akiko Fujita on The Ticker to discuss.